Travel - You must record the amount of each separate expense for travel, lodging, meals and the like. Dates are important as well -- when you left and returned for each trip plus the number of days you were away on business. You're also required to specify the city or other destination and clearly express the business reasons for the trip. When you use your car for business travel, you must record mileage, dates, destinations and purpose.

Entertainment - As with travel, business-related entertainment records should identify the amount of each expense, date of business meal or other event, name and address where the entertainment occurred and, if not immediately apparent (as in the case of a restaurant), type of entertainment provided. You'll need to define the business purpose of the entertainment, such as the nature of the discussion or other activity and/or business benefits you hoped to gain. You're also required to name the person (s) you entertain, briefly describing their business relationship to you.

Gifts - Indicate how much a certain gift was worth and the date on which it was given. Describe the item (a watch, pen, calculator, etc.) and specify the business motivation for the gift. To establish a business relationship with the recipient, note his or her company and/or occupation.